Many people looking for an online loan for trainees face the problem that their income is too low and their future too uncertain to convince the bank of its creditworthiness. For this reason, it is usually very difficult to find a suitable lender.
Similar to another loan, a comparison of the various providers on the Internet should also be carried out for an online loan for trainees. Above all, it is advisable to pay attention to the length of the term, the possible loan amount and the amount of the monthly repayment installment. If the desired amount of credit is only a small sum in the three- or four-digit range, lending should not be a major problem.
Once the appropriate online loan is found, the trainee can go to the bank’s website, complete the application and then send it directly to the bank. Now an immediate credit check is carried out, whereby in particular the private credit should play a crucial role. If there are no negative entries, the online loan for apprentices can be provisionally approved.
For a final decision, the trainee would have to send his proof of income and other documents to the bank. This would have to be done by mail. In this context, care should be taken that lending can only be granted to persons who have reached the age of 18 years. Loans to minors are generally not granted.
An online loan for apprentices must be paid in regular monthly installments. These installments are not only the repayment amount but also the interest. The latter can in turn be subdivided into the borrowing rate and the other costs or fees that arise during the lending and / or during the term.
For this reason, the interest rate to be paid by the borrower is also called the annual percentage rate. Often, banks will only grant an on-line loan for trainees if the end of the term does not extend beyond the end of training. Otherwise, the trainee would have to find a guarantor or a co-applicant who ideally should come from his own family. Of course, this person must meet the criteria for a normal installment loan and have, for example, a positive private credit and a regular, sufficiently high income.
In a car loan, the situation is slightly cheaper dar. Here is the loan amount of a material value, which can be seized in case of persisting arrears of payment. Buying a new or used car is a very common reason for wanting an online loan for trainees.